02:43:11 EDT Tue 19 Mar 2024
Enter Symbol
or Name
USA
CA



Stars Group Inc (The)
Symbol TSGI
Shares Issued 148,602,549
Close 2018-04-23 C$ 43.02
Market Cap C$ 6,392,881,658
Recent Sedar Documents

Globe says Stars Group's bet on Sky is "transformative"

2018-04-24 07:46 ET - In the News

The Globe and Mail reports in its Tuesday, April 24, edition that Desjardins Securities analyst Maher Yaghi says Stars Group's ($43.02 (Canadian)) $4.7-billion (U.S.) acquisition of Sky Betting & Gaming is "transformative" (all subsequent figures Canadian). The Globe's David Leeder writes in the Eye On Equities column that Mr. Yaghi believes the deal has the potential for "significant cost and potentially even higher revenue synergies." He upgraded the Toronto-based poker giant to "buy" from "hold." Mr. Yaghi hiked his share target to $45 from $36. Analysts on average target the shares at $39.97. Mr. Yaghi says in a note: "Overall, the deal -- if approved by regulatory authorities -- will create a global powerhouse in poker, sports betting and on-line gaming. In our view, this should provide TSGI with sizable cross-selling and revenue synergy opportunities." Elsewhere, Echelon Wealth Partners analyst Ralph Garcea raised his share target to $55 from $44 with an unchanged "buy" rating. Mr. Garcea says, "This marks TSGI's third acquisition in sportsbook thus far in 2018 (CrownBet, WMH Australia, SkyBet) -- we believe the focus now turns to integration and synergies across all platforms and business units."

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